VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 11, 2017) - Filo Mining Corporation (TSX VENTURE:FIL)(OMX:IL) ("Filo Mining", "Filo" or the "Company") announces that after a highly successful tenure of leading the Company's exploration and its corporate spin-off from NGEx Resources Inc., Mr. Wojtek Wodzicki will be stepping down as Filo's President and CEO to focus on his activities as President and CEO of NGEx and will be succeeded by Mr. Adam I. Lundin, effective September 11, 2017. Mr. Lundin has also been appointed to Filo's Board of Directors. Mr. Wodzicki will continue to serve as a Director of Filo and lead advisor to the technical team.
Adam Lundin's, industry expertise, and market understanding will build on the success the Company has achieved. Adam is focused on the future and helping the Company achieve its long-term strategic goals. He brings a recognized legacy and years of international finance and capital markets experience to Filo, complementing the Company's strong technical team. He is well placed to lead Filo Mining through the next phase of its growth into a significant copper, gold, and silver company.
"This is the perfect time for Adam to become Filo Mining's next Chief Executive Officer," commented Lukas H. Lundin, Chairman. "He knows the business well, having started his career at a number of mining companies around the globe before moving into finance where he specialized in institutional equity sales, ultimately becoming co-lead of Pareto Securities highly-successful London office. We plan to aggressively advance the Filo del Sol Project and I look forward to witnessing Filo's continued growth under his guidance."
Lukas H. Lundin, further commented, "I want to express my gratitude and thank Wojtek for his role in creating and leading Filo during the first phase of its growth and look forward to his continued contribution as a board member and advisor to management. As President and CEO of both Filo Mining and NGEx Resources, Wojtek and his technical team earned one of the best discovery records in the business, adding more than 27 billion pounds of copper, 21 million ounces of gold and 227 million ounces of silver to the companies' resource base. This is an amazing achievement and a testament to Wojtek's vision and leadership. I expect Wojtek and his NGEx team to build on that success at NGEx as that company embarks on a new phase of high impact exploration. Both Filo and NGEx are well positioned for continued growth as metal markets recover and we build on the outstanding track record that the Lundin group of companies has in South American exploration and development."
Filo Mining Corp. is a Canadian mining company focused on advancing the Company's key project, Filo del Sol. Filo del Sol hosts a current resource of 3.9 million ounces of gold, 110 million ounces of silver; and 2.8 billion pound of copper in the Indicated category as well as addition resources in the Inferred category. The resource is open in several directions and at depth. The project is located within adjacent concessions along the border of Region III, Chile and San Juan Province, Argentina.
A member of the Lundin Group of Companies, Filo Mining is listed on the TSX Venture Exchange and Nasdaq Stockholm First North under the symbol "FIL".
Filo Mining is listed on the TSXV and Nasdaq First North Exchange under the trading symbol "FIL". Pareto Securities AB is the Company's Certified Adviser on Nasdaq First North.
This information is information that Filo Mining Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out below, on September 11, 2017 at 10:20 a.m. Vancouver time.
On behalf of the Board,
Lukas Lundin, Chairman
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"), concerning the business, operations and financial performance and condition of Filo Mining Corp. The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, the inherent uncertainties regarding cost estimates, changes in commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration activities, cost overruns, availability of financing, materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations, as well as other risks and uncertainties more fully described under "Risk Factors" and elsewhere in the Company's most recent Annual Information Form available under the Company's profile at www.sedar.com and on the Company's website. These risks and uncertainties may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.